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MLS Housing Market Report for London Ontario – April 2013

London and St. Thomas Association of Realtors
MLS Real Estate Housing Market Report
for April 2013

Market Activity

720 detached homes and 144 condos exchanged hands in April 2013, for a total of 864 transactions.

Type of Market

Balanced

Listings

Active detached home listings end of period remained the same. Active condo listings end of period were up 2.3%

Average Price for April 2013

(April 2013 compared with last month)

Total Residential (Detached & Condo)

$249,880 up 1.4% ($246,333)

All detached homes in LSTAR’s jurisdiction

$262,996 down 0.5% ($264,527)

All condos in LSTAR’S jurisdiction

$184,300 up 8.8% ($169,359)

All two-storeys in LSTAR’s jurisdiction

$332,598 down 0.8% ($335,561)

All bungalows in LSTAR’s jurisdiction

$190,694 down 9.2% ($210,127)

All ranches in LSTAR’S jurisdiction

$300,569 up 6.4% ($282,405)

All townhouse condos in LSTAR’s jurisdiction

$165,912 up 10.5% ($150,191)

Most Popular in April

Two-storeys, then bungalows, then ranches, and then townhouse condos.

Affordability

“We always like to see a modest rise in price over time,” says President Doug. “However, the really great news is how affordable our jurisdiction continues to be compared to other centres across Canada.” The following chart contains data provided by the Canadian Real Estate Association (dating from February 2013 — the latest information available).

London and St. Thomas $244,603

Canada $362,749

Vancouver $714,102

Victoria $474,430

Toronto $510,011

Calgary $461,866

Hamilton-Burlington $380,234

Ottawa $347,308

Kitchener-Waterloo $350,673

Edmonton $351,691

Saskatoon $326,624

Regina $320,915

Halifax-Dartmouth $251,901

Market Factors

The Spring market gained more traction in April, with 720 detached homes exchanging hands last month, an increase of four units over last April, and 144 condos, down by twenty units. “Altogether April sales were down 1.8% from April of the previous year,” says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. “However, given the slow start to the year, 864 homes sold in a single month represents a definite improvement and is right in line with previous Aprils over the past decade.”